Canoe and Hamilton Lane Collaborate to Bring New Efficiencies to Alternative Investment Operations
NEW YORK APRIL 22, 2020 – Canoe Intelligence (“Canoe”), a financial technology company on a mission to automate and improve alternative investment operations for institutional investors, capital allocators and asset servicing firms, today announced that Hamilton Lane (NASDAQ: HLNE), a leading private markets investment management firm, has implemented Canoe solutions as another step in its efforts to further streamline internal processes.
Hamilton Lane invested in Canoe’s series A funding round in February of 2020, and is now collaborating with the firm to unlock new efficiencies in alternative investment processes; including data collection, accounting, investment tracking, portfolio management, reporting and more. Hamilton Lane will be deploying Canoe’s technology to automate data management tasks and accelerate access to new elements within alternative investment reports at-scale.
“Canoe is singularly focused on solving the unique data challenges faced by alternative investors and allocators with highly-specialized technology solutions,” said Seth Brotman, CEO of Canoe. “We’re incredibly grateful for Hamilton Lane’s ongoing support and collaboration, and we look forward to working together with the goal of streamlining more operational processes.”
With the ability to rapidly-convert volumes of unstructured alternative investment reporting documents into normalized, accessible datasets and track and organize associated documents, Canoe’s technology seeks to maximize the value of data and create more time for users to focus on investment decision-making.
“Hamilton Lane remains committed to using technology innovations to enhance how it manages and consumes data,” said Griffith Norville, Managing Director, Strategic Technology at Hamilton Lane. “As both an investor and user of Canoe’s technology, we believe Canoe is a strong partner to enhance our mission of delivering results and solutions to our clients.”
The Canoe platform is powered by an advanced blend of proprietary and open-source machine learning and artificial intelligence technologies. Canoe’s technologies allow clients to reliably extract relevant data from complex PDFs and form a growing, shared intelligence of data extraction patterns that can be leveraged by all clients. Its data management engine ingests, extracts and normalizes data for ancillary systems, such as reporting, analysis and accounting, and remains a constant should any of those downstream systems change.
This news follows other recent announcements from Canoe that include being recognized by Family Wealth Report as the most “Innovative Client Solution” and starting multiple new client engagements with institutional investors.
ABOUT CANOE INTELLIGENCE
Canoe Intelligence is first-of-its-kind technology that allows allocators to unlock their data. Canoe reimagines operational workflows and enables clients to transform their processes in order to eliminate manual data entry. By combining industry expertise with the most sophisticated data capture technologies, Canoe automates the digitization of PDF reporting documents into actionable data and intelligence for institutional investors, allocators, and asset servicing firms. With Canoe, clients refocus capital and human resources on business performance and growth. Canoe’s AI-driven platform was developed in 2013 for Portage Partners LLC, a private investment firm, and is relied upon by hundreds of institutional investors, service providers, family offices, and allocators. www.canoeintelligence.com
ABOUT HAMILTON LANE
Hamilton Lane (NASDAQ:HLNE) is a global private markets investment manager that employs an innovative, data-backed approach to design funds and customized portfolios that meet investors’ needs. Dedicated to private markets investing for 28 years, we offer institutions and individuals unrivaled investment expertise, leveraging our scale and proprietary data, striving to optimize the products and portfolios we create. Our team of 400 professionals operates in offices throughout North America, Europe, Asia-Pacific, Latin America and the Middle East. Hamilton Lane has approximately $488 billion in assets under management and supervision, composed of approximately $66 billion in discretionary assets and nearly $422 billion in advisory assets, as of December 31, 2019. For more information, please visit www.hamiltonlane.com or follow Hamilton Lane on Twitter: @hamilton_lane.
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Forefront Communications for Canoe Intelligence